Ex-Lone Pine, Goldman Execs.' Fund Up 16%

Jan 14 2014 | 12:21pm ET

One of 2012's biggest Asian hedge fund launches posted "respectable" returns in its first full year.

Tybourne Capital Management was up 16.04% last year, The Wall Street Journal reports, better than the average hedge fund both globally and in the Asia-Pacific region, but far behind the broader markets. That led co-founder Eashwar Krishnan to describe the performance as "respectable" in a letter to investors.

Krishnan, Lone Pine Capital former Asia chief, and former Goldman Sachs capital introductions executive Tanvir Ghani, set up Tybourne in Hong Kong in the summer of 2012. The Asia-focused long/short equity strategy returned 5% in the second half of that year.

Krishnan told clients that he expects better things in 2014. He wrote that the fund has major exposure to "less fashionable markets in Asia," including Southeast Asia and China. "The underperformance and relative valuation discounts in developing Asia vis-à-vis developed markets are approaching levels that we believe are very compelling."


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Malik: The Ever-Changing Middle Market and The Entering Class of 2016

Sep 2 2016 | 5:01pm ET

Deal sourcing and origination is only going to get more competitive given current...